Hongkong Land Net Slips

Underlying Profit Jumps 31%;
Landlord Expects Rents to Rise

By
Jonathan Li

Updated March 7, 2007 12:01 am ET

HONG KONG -- Hongkong Land Holdings Ltd., a major landlord in Hong Kong's Central district, posted an 8% decline in its 2006 net profit on lower gains from property revaluation. The company said it expects rents in the business district to rise further this year.

Singapore-listed Hongkong Land, which is a unit of Singapore-listed conglomerate Jardine Matheson Holdings Ltd., said net profit for the year was US$1.9 billion, down from $2.06 billion in the previous year.